Retail sales & other news

For observers looking for signs of economic direction the data continues to fly in the face of consumer sentiment and media tone. The Commerce Dept. announced October’s retail sales volume and the data shows an increase of over 7% compared to October 2010. That’s a steeper growth path than the 2005-2007 trend and the overall spending is 3.5% higher than the volume at the peak of the last business cycle in Nov. 2007. A 7% increase in the segment that makes up 70% of the U. S. economy is significant anytime but especially if it’s during a period of time when consumer sentiment is falling (like this summer).

Monthly retail sales (Source: Reed Construction Data)

 
 
 
 
 
 
 
 
 
 
 
On a different note, Pittsburgh’s Bill Hunt – CEO of the Elmhurst Group – has been named the chair of NAIOP’s national board. Hunt has been active with NAIOP national for the last few years and his appointment as the national board’s executive gives the Pittsburgh an even higher profile. 
 
 
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s